Xunlei Limited (NASDAQ:XNET) Sees Significant Increase in Short Interest

Xunlei Limited (NASDAQ:XNET) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 1,814,646 shares, an increase of 35.9% from the December 15th total of 1,334,796 shares. Based on an average daily volume of 450,883 shares, the short-interest ratio is currently 4.0 days. Approximately 3.7% of the shares of the company are short sold. Approximately 3.7% of the shares of the company are short sold. Based on an average daily volume of 450,883 shares, the short-interest ratio is currently 4.0 days.

Institutional Investors Weigh In On Xunlei

Several hedge funds have recently made changes to their positions in the company. Stonehill Capital Management LLC acquired a new position in Xunlei in the 3rd quarter worth approximately $2,295,000. Scientech Research LLC acquired a new stake in shares of Xunlei in the third quarter worth $223,000. Public Employees Retirement System of Ohio purchased a new position in shares of Xunlei during the third quarter valued at $529,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Xunlei during the third quarter valued at $484,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Xunlei during the third quarter valued at $2,146,000. Hedge funds and other institutional investors own 5.07% of the company’s stock.

Xunlei Price Performance

XNET stock opened at $7.66 on Monday. The firm’s 50-day moving average is $7.28 and its two-hundred day moving average is $7.16. The company has a market capitalization of $480.97 million, a price-to-earnings ratio of 0.38 and a beta of 0.99. Xunlei has a 52 week low of $2.05 and a 52 week high of $11.03. The company has a current ratio of 2.02, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03.

Xunlei (NASDAQ:XNET) last posted its quarterly earnings data on Thursday, November 13th. The software maker reported $0.07 EPS for the quarter. Xunlei had a net margin of 315.06% and a return on equity of 2.75%. The business had revenue of $125.93 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Xunlei in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Xunlei currently has an average rating of “Buy”.

Xunlei Company Profile

Xunlei Limited (NASDAQ: XNET) is a China-based technology company specializing in content acceleration and cloud services. Its core offerings include the Xunlei download manager, which integrates peer-to-peer (P2P) and cloud-based acceleration technologies to enhance file delivery speeds for large downloads. The company has expanded its suite of products to encompass cloud storage solutions, media streaming applications and mobile browsing tools, all aimed at improving digital content distribution and user experience.

Founded in 2003 and headquartered in Shenzhen, Xunlei originally gained traction by addressing bandwidth constraints in China’s burgeoning internet market.